Utp Italia, start of leasing portfolios of 100 million

A new EUR 100 million 'injection' into the Utp Italia fund of mainly 'Unlikely To Pay' loan portfolios. This was announced by Intrum Italy (a joint venture between Intrum Group with 51% and Intesa Sanpaolo with 49%) and Sagitta Sgr. These are mostly real estate leasing loans, which enter for the first time among the target assets for investment by the fund. The contributions will increase the contributed assets to approximately EUR 1.2 billion.

To date, seven leading banking groups make up the investor base of Utp Italia, a fund that confirms its granular nature by counting more than 26,000 total debtors with an average exposure of around EUR 45,000.

Launched in November 2022, the Utp Italia fund combines the securitisation tool with a closed-end, multi-fund alternative investment fund for professional investors and specialises in managing Unlikely To Pay granular credits, from mortgages and loans and, as of today, also from real estate leasing.

"These additional contributions broaden the asset class in the fund to include leasing receivables," said Enrico Risso, managing director of Intrum Italy, "and allow us to record, just under three years from the start of operations, an extraordinary performance of +20%m compared to initial expectations. The operating model inaugurated with Utp Italy has allowed us to offer customised and sustainable solutions in recent years, responding to the specific needs of our clients and promoting the financial sustainability of approximately 21,700 creditors and 4,600 SMEs".

"The funds that Sagitta has set up," added Claudio Nardone, managing director of Sagitta Sgr, "provide solutions capable of intervening at different stages of the crisis: from the purchase of Stage 2 loans, Utp and Npl, both for granular portfolios and for single name, to the provision of new direct finance in cases where banks are experiencing the greatest difficulties. As for Utp Italia's opening to the leasing sector, this represents a further expansion of the operational levers at its disposal.